On Monday,Farabi (2020) Feneo Original Web Series BYD reported a record net income of RMB 10.4 billion ($1.42 billion) for July to September, marking the Chinese electric vehicle maker’s largest quarterly profit ever and representing an 82.2% increase from a year earlier. The gross margin experienced a three-point year-on-year growth to 19.79%, slightly below the 20.7% achieved as of June. Notably, the company exported approximately 71,000 cars in the third quarter, nearly matching the 75,000 units achieved in the first half of this year. This brings BYD’s total exports from January to September to around 145,500 units, comprising 17.6% of China’s new energy vehicle shipments to overseas markets, as per figures from the China Association of Auto Manufacturers. [Caixin, in Chinese]
